The Veet hair removal system for hairy gorillas is flying off the shelf.

This surely has to be a buy? DYOR

http://www.reckittbenckiser.com/

12 February 2013

Reckitt Benckiser ANNOUNCES LATAM OTC COLLABORATION

WITH BRISTOL-MYERS SQUIBB

Slough, England - 12 February, 2013 - Reckitt Benckiser Group PLC ("RB") (LSE:
RBL) today announced that it has signed a three year collaboration agreement
with Bristol-Myers Squibb ("BMS") for a number of market-leading
over-the-counter ("OTC") consumer health care brands in Brazil, Mexico and
certain other parts of Latin America (collectively "BMS Assets"), with an
option to purchase at the end of the three year period. The key brands included
under the agreement are:

Brazil Mexico

Naldecon - leading cough & cold brand Tempra - No.1 in adult and pediatric
pain relief

Luftal - No.1 in anti-flatulence Picot - No.1 in antacids

Dermodex - leading nappy rash brand Graneodin-B - No.1 in sore throat


Under this collaboration, RB will licence the brands from BMS, who will
continue to manufacture them for three years.

Rakesh Kapoor, Reckitt Benckiser Chief Executive Officer, said,

"This transaction creates a material consumer health care platform,
infrastructure and distribution network for RB in both Brazil and Mexico. As
such it is an important step in building our consumer health care presence in
Latin American emerging markets.

"These market-leading brands have strong margins and I firmly believe they have
extremely good growth potential. They fit into our existing OTC categories of
pain relief, sore throat, cough and cold, anti-acid, and dermatological and
will benefit from RB's consumer marketing and Innovation capabilities, and our
significant levels of brand equity investment."

Under the terms of the agreement RB will initially pay BMS $482 million to
enter into the arrangement which also includes personnel, supply contracts and
an option to acquire legal title to the related intellectual property at the
end of the collaboration period, based on business performance. The transaction
will be accounted for as a business combination and the Directors are in the
process of revaluing the assets and liabilities acquired to fair value,
including the value of any acquired intangible assets. Under the terms of a
separate supply agreement BMS will be RB's supplier of the products during the
collaboration period.

BMS Assets had unaudited reported net revenue for the year ended 31 December
2012 of $102 million.

We expect the transaction to be EPS* accretive from 2014 under IFRS. Excluding
the amortization we expect it to be immediately EPS* accretive(1).

The collaboration will come into effect following regulatory approvals,
including anti-trust approvals in the relevant jurisdictions. This is expected
to be completed in Q2 2013.

*Adjusted results exclude the impact of exceptional items

(1) Under IFRS a fair value of the collaboration agreement is required to be
calculated and amortized over the collaboration period.

ENDS

FY Results 2012

Highlights: Full Year

- LFL +5% ex RBP (+5% incl. RBP), well ahead of our market growth, driven by
Emerging Market Areas and Europe North America (ENA).

- Health & Hygiene led growth; Durex, Gaviscon, Strepsils, Dettol, Lysol,
Harpic and Finish.

- Increased brand equity investment (BEI) of £100m1, +70bps, (ex RBP).

- Gross margin +50bps to 57.9%. "Project Fuel" targets fully achieved.

- Adjusted operating margin** +70bps to 26.9% via gross margin expansion and
early ENA cost savings.

- Adjusted net income** +7% (+10% constant): adjusted diluted EPS of 264.4p
(+7%).

- Net working capital of minus £700m (2011: minus £701m).

- Net debt after dividends, acquisitions and restructuring of £2,426m (2011:
£1,795m).

- The Board recommends an +11% increase in the final dividend to 78p per share
bringing the total dividend for 2012 to 134p (+7% versus 2011).

Highlights: Q4

- Q4 LFL growth +6% ex RBP (+7% incl. RBP), reflecting steadily improving
in-year performance.

- Further improvement in ENA +3% LFL, assisted by higher incidences
of cold and flu.

Dividends. The Board of Directors recommends a final dividend of 78
pence (2011: 70 pence), an increase of +11%, to give a full year dividend of
134 pence (2011: 125 pence), an overall increase of +7%. The dividend, if
approved by shareholders at the AGM on 2 May 2013, will be paid on 30 May to
shareholders on the register at the record date of 22 February. The
ex-dividend date is 20 February and the last date for election for the share
alternative to the dividend is 8 May. The final dividend will be accrued once
approved by shareholders.

Prime Markets - RB. is a buy with target price £47

Up another quid today.

£45 quid this morning.

These are making new highs almost daily of late.

no wonder HG+HC index continues to spiral

Just £46.26 so far today!

here's the answer to today's slump .....

Consumer products group Reckitt Benckiser was the worst performer, slumping 182.5p at 4,333.5p on news the US FDA has given the go-ahead to rival drug manufacturers to produce a generic version of the company's Suboxone product in the US. In response, Investec downgraded its recommendation on the stock to sell from hold

==============

i would guess the drop is overdone as is the nature of these things, though when wall street opens today, there may be further selling ...... worth keeping an eye on HG+HC index, as a buying opportunity may be on the near horizon after this sharp correction - but be very aware that its volatility is scary

25 February - Deutsche bank - RB. still a buy and retains its price target of £48.
Investec did downgrade from hold to sell but retained its TP of £42.60.

Reuters take :-

Reckitt loses bid to change U.S. drug packaging rules

(Reuters) - The U.S. drugs regulator has rejected goods manufacturer Reckitt Benckiser's call for stricter packaging for its heroin addiction treatment, instead approving generic production for the drug.

The British company's pharmaceuticals division makes most of its profit from Suboxone, a treatment containing buprenorphine, for recovering heroin addicts.

Last year, Reckitt voluntarily withdrew the sale of Suboxone tablets in the U.S. in favor of an individually sealed film version, citing a higher risk of children mistakenly getting their hands on the tablets.

Credit Suisse Neutral 4,581.50 4,516.00 4,250.00 4,900.00 Reiterates

Bank of America Merrill Lynch retains buy and raises target to £52.50

INTERIM MANAGEMENT STATEMENT Q1 2013


Highlights: Q1 (at constant rates)

* Total net revenue growth of +7%. Ex. RBP growth +6%.

* LFL net revenue growth excluding RBP of +6%.

* Continued very strong growth in Emerging Market Areas. +3% LFL growth in
ENA.

* Strong underlying growth across Health & Hygiene boosted by higher
incidence of flu. Good performance from Mucinex, Strepsils, Nurofen, Durex,
Dettol / Lysol & Finish.

* Schiff integration progressing well; strong Q1 on both Schiff and Guilong
China.

* RBP - total US market volume film share 69%, early generic tablet impact as
expected.

Credit Suisse Neutral 4,700.00 4,900.00 4,650.00 Reiterates

Nomura Buy 4,700.00 4,900.00 4,800.00 Retains

Bank of America Merrill Lynch Buy 4,700.00 5,250.00 5,250.00 Retains

but sp shows why today's "clunk" on HG+HC index

Half-Year Results 2013

3rd Quarter Results

Highlights:

* Year to date like-for-like (LFL) net revenue growth (ex RBP) of +5%, driven
by Emerging Markets Areas (EM) growth and continued growth in ENA.
* Strong Q3 LFL growth of +5% (ex RBP) - ENA +2% LAPAC +10% and RUMEA +5%.
* Continued excellent Health & Hygiene performances, and a solid Home
performance in challenging market conditions.
* RBP - volume (mg) market share of Film maintained at around 68% since
launch of generic tablets and strategic review of RBP to commence.

Investec & Liberum both gave 'sell' ratings yesterday!